47 Exploits Worth $349M Occurred in November
The post 47 Exploits Worth $349M Occurred in November appeared on BitcoinEthereumNews.com.
Losses from the attacks on Poloniex, HTX and Heco Bridge accounted for almost 70% of all the losses in crypto hacks that were registered in November. The blockchain industry faced a turbulent November in 2023, marked by a staggering 47 crypto exploits and breaches that resulted in a cumulative loss of around $349 million, according to insights from the SlowMist Blockchain Hacked Archive. Popular Crypto Exploits that Made Headlines Let’s consider the major crypto hacks that were registered in the previous month. Onyx Protocol – $2.1M On November 1, 2023, Onyx Protocol, a Decentralized Finance (DeFi) lending protocol, fell victim to an attack resulting in a loss of 1,164.53 ETH (about $2.1 million). The attacker manipulated interest rates to borrow more funds than expected, employing similar tactics seen in the attack on Hundred Finance. TrustPad – $155,000 On November 6, 2023, TrustPad, a cross-chain financing platform, suffered a loss of about $155,000 due to a staking contract attack. This is one of the smallest crypto exploits recorded in November. TheStandard.io – $290,000 TheStandard.io, a decentralized stablecoin protocol, experienced an attack on November 7, resulting in a loss of approximately $290,000. Exploiting low liquidity in the PAXG pool, the attacker was able to successfully manipulate the market. MEV Bot – $2.2M On the same day, an MEV bot suffered an attack, losing about 1,000 ETH. The attacker exploited the lack of authentication in the contract’s 0xf6ebebbb function, using it to trigger arbitrage and profit from token exchanges. CoinSpot – $2.4M Suspected to be due to a private key leak, the Australian crypto exchange CoinSpot experienced a loss of over 1,283 ETH (approximately $2.472 million) on November 8, 2023. Poloniex – $130M On November 10, the exchange Poloniex suffered a massive attack, causing an estimated loss of about $130 million. Poloniex is…
Filed under: News - @ December 4, 2023 4:22 pm